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Bank of Canada Governor Stephen Poloz listens to remarks after addressing the Canadian Club of Toronto on Thursday December 14, 2017. THE CANADIAN PRESS/Chris Young
U.S. President Donald Trump is creating headaches for a lot of foreign officials these days, Stephen Poloz included. The Bank of Canada governor could find his job even trickier in the next year, as the U.S. increases interest rates at a faster clip. The question for Poloz is whether to follow suit, and risk reining growth in too much, or hang back, which could result in downward pressure on the loonie. Either way, it could be challenging.
Both countries’ economies are growing but under Trump, the U.S. slashed corporate taxes and passed a US$1.3-trillion spending bill, which will juice the economy and make higher interest rates a given. The U.S. Federal Reserve already hiked once last week, and Canada has stood still.
READ: For Canada, 2018 brings an ‘unbelievable’, ‘ridiculously strong’ job market
Canada doesn’t have the same fires stoking its economy. GDP growth is slowing, oil prices haven’t recovered, and the housing market
Article source: http://www.msn.com/en-ca/money/topstories/stephen-poloz%E2%80%99s-job-is-about-to-get-harder/ar-BBKNd5r?srcref=rss
2018 Forbes Billionaire list has been released and Amazon founder has seized the top spot. Let’s take a look at the 50 richest people in the world. (All figures in U.S. dollars. US$1=$1.29)
Click or swipe to see the list.
Article source: http://www.msn.com/en-ca/money/topstories/forbes-worlds-billionaires-meet-the-richest-people-of-2018/ss-BBKOBSG?srcref=rss
TORONTO — Tim Hortons has announced a $700 million program over four years to refresh and modernize about half of its store network across Canada, hoping to woo more customers to its outlets with communal seating and electric outlets at tables to charge phones and other electronics.
But beyond luring in more customers, the company’s biggest challenge could be convincing an unhappy group of franchisees to buy in to the strategy after a year of upheaval, mudslinging and lawsuits.
New Tim Hortons president Alex Macedo, who joined the brand in December, said franchisees were informed of the coming changes in a conference call last Thursday, “and so far we are happy with the reaction,” he said in an interview.
“We are going in the same direction, and the franchisees that are aligned for the long run understand that this is the right way to go.”
Franchisee politics aside, the brand is in need of a boost after posting five consecutive quarters of tepid same-store sales. Rival McDonald’s Canada has steadily increased its market share of coffee and breakfasts in recent years and Starbucks Canada is outpacing both chains in sales growth, according to market research firm NPD Group.
“We have been listening to our guests
Article source: http://www.msn.com/en-ca/money/topstories/tim-hortons-wants-to-give-its-restaurants-a-dollar700m-makeover-but-franchisees-say-it%E2%80%99s-%E2%80%98ill-conceived%E2%80%99/ar-BBKOVA0?srcref=rss
© Lululemon Athletica
Lululemon store seen from outside with blue sky in background.
Yoga retailer lululemon athletica (NASDAQ: LULU) has come a long way over the past several years. After having developed a reputation for being one of the most successful and innovative retailers of the 2000s, Lululemon fell into the common trap of taking its quality control too much for granted. After a long and painful period of seeing customer desertions and corporate difficulties, Lululemon finally started to make a turnaround, and its recent results have gotten the yoga-apparel specialist back on a more promising trajectory.
Coming into Tuesday’s fiscal fourth-quarter financial report, Lululemon investors wanted to see those positive trends continue. Lululemon’s performance was strong, and that helped build optimism among investors that the retailer can keep making progress into the new fiscal year. Let’s look more closely at Lululemon to see what it achieved and what’s ahead for the company.
Lululemon celebrates the holidays
Lululemon’s fiscal fourth-quarter results marked an excellent finish to a promising fiscal year for the yoga retailer. Revenue was higher by 18% to $928.8 million, with the pace of growth once again accelerating from what investors had seen in previous quarters. GAAP net income was down 12% to
Article source: http://www.msn.com/en-ca/money/topstories/healthy-times-continue-for-lululemon-athletica/ar-BBKOY8Z?srcref=rss
© REUTERS/Mark Blinch/File photo
Blackberry sign seen in front of their offices on the day of their annual general meeting for shareholders in Waterloo.
BlackBerry Ltd beat analysts’ profit estimates for its fourth quarter, and said it expects strong billings at its high-margin software and services business for the full year, sending its U.S.-listed shares up 5 percent premarket.
The company, which reinvented itself after customers ditched its smartphones for Apple’s iPhones and Android devices, said revenue from its enterprise software and services business rose about 19 percent to $108 million.
“Our strategy is working,” Chief Executive John Chen said during a morning conference call.
BlackBerry, which had about 3,500 enterprise customer orders in the quarter, expects total company software and services billings growth to be in “double-digits” in 2019.
The company extended CEO Chen’s contract earlier this month, and followed that up with two big deals in software security – one with Jaguar Land Rover and the other with Microsoft.
The profit beat was helped by higher margins on software and services sales.
BlackBerry’s gross margins rose to 76 percent of the revenue, from 60.1 percent a year earlier.
Excluding one-time items, the Waterloo,
Article source: http://www.msn.com/en-ca/money/topstories/blackberry-beats-profit-estimates-shares-jump/ar-BBKOZOL?srcref=rss
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ST. ALBERT, Alta. – Alberta Premier Rachel Notley is calling a recent court decision on the Trans Mountain pipeline expansion project a definitive victory.
The Federal Court of Appeal on Friday dismissed the B.C. government’s bid to challenge a National Energy Board ruling that allows Kinder Morgan Canada to bypass local bylaws during construction of the pipeline expansion which would triple the amount of crude flowing from Alberta to a port facility in Burnaby, B.C.
The court also ordered B.C. to pay the legal costs.
“Another victory for our economy. Another victory for our climate plan. Another victory for the pipeline and another victory for all Albertans and all Canadians,” Notley said Monday at an unrelated transit announcement.
The federal government approved the pipeline expansion in 2016, but the project faces significant opposition in B.C. Thousands of people have rallied in protest and the provincial government has raised concerns about the pipeline’s possible environmental and economic impact.
B.C. Environment Minister George Heyman said the government is disappointed by the court’s decision and suggested it undermines the local permitting process.
“The provincial government has steadfastly assured administrative fairness, while we defend B.C.’s interests by insisting on high standards for environmental protection and First Nations consultations,” he said in a statement Monday.
“Our government will continue to
Article source: http://www.msn.com/en-ca/money/topstories/alberta-wins-trans-mountain-appeal-in-federal-court/ar-BBKJ7YM?srcref=rss
© REUTERS/Peter Power
Coils of steel sit in storage in a port authority facility in Hamilton
Canada will act to prevent the smuggling of cheap steel and aluminum into the North American market to avoid new U.S. tariffs on the metals, Prime Minister Justin Trudeau said on Tuesday.
Trudeau said earlier this month he was aware of concerns that countries facing the tariffs could try to ship supplies through Canada and pretend the metals had been produced in Canadian facilities.
Under new measures unveiled by Trudeau’s office on Tuesday, the Canada Border Services Agency will gain new powers to stop companies that try to dodge duties.
“We will not allow North American industries to be hurt or threatened by unfair trade practices, like the diversion of steel and aluminum … Canada will not be used as a backdoor into other North American markets,” Trudeau said in a statement.
Canada will also coordinate more closely with its partners to strengthen border enforcement and meet more often with the United States and Mexico, its partners in the NAFTA trade pact, to discuss problems facing the steel and aluminum industries.
Canada is the biggest supplier of steel and aluminum to the United States. The measures will come into
Article source: http://www.msn.com/en-ca/money/topstories/canada-to-target-smuggling-of-steel-intended-to-dodge-us-tariffs/ar-BBKLCc6?srcref=rss
© Jack Guez/AFP/Getty Images
Twitter will ban advertising for cryptocurrency initial coin offerings in most circumstances.
Twitter Inc. will start banning cryptocurrency advertising from Tuesday, joining Facebook and Google in a clampdown that seeks to avoid giving publicity to potential fraud or large investor losses.
The prohibition will cover advertising of initial coin offerings (ICOs) — crowdfunding used to raise cash by creating new coins — as well as token sales, the San Francisco-based firm told Reuters on Monday.
The new policy, which will be rolled out over the next 30 days, will also ban ads by cryptocurrency exchanges and cryptocurrency wallet services, unless they are public companies listed on certain major stock markets. For Japan, these will be limited to crypto exchanges regulated by its national financial regulator, Twitter said.
The firm had said this month it was taking measures to prevent crypto-related accounts from “engaging with others in a deceptive manner”, but faced calls to go further after bans from Facebook Inc. and Alphabet Inc.’s Google.
Facebook has restricted crypto-related adverts, while Google announced a ban that comes into force in June.
The price of bitcoin, already 4 per cent in the red on Monday, fell further after the Twitter announcement.
Article source: http://www.msn.com/en-ca/money/topstories/twitter-bans-ads-for-cryptocurrency-icos-joining-crackdown-on-scams/ar-BBKM3d1?srcref=rss
Buying a home is an exciting venture, but it also comes with risk and expense. Often times, new homeowners underestimate the extra cost of maintenance and repairs, along with the labor required to keep a home in prime condition.
Click through to see some common expectations first-time homebuyers have, and why you might never want to own a home yourself.
Article source: http://www.msn.com/en-ca/money/topstories/8-startling-facts-that-blindside-homebuyers/ss-BBKLsIv?srcref=rss
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MONTREAL – Canadian National Railway Co.’s former chief executive received $12.3 million in compensation last year, before he left the company as it struggles through operational and customer service challenges, the Montreal-based railway said in a regulatory filing.
Luc Jobin’s total compensation was up from $8.3 million in 2016, when he assumed the top job halfway through the year. He was chief financial officer for the first six months.
His total compensation was slightly lower than the Royal Bank’s Dave McKay, at $12.4 million, the best compensated of Canada’s top five bank CEOs in 2017.
But he was far behind Keith Creel, who was paid $20.1 million, including $10.5 million in stock options last year to head Canadian Pacific Railway Ltd.
Jobin last year received $1.4 million in salary, $5.15 million in share-based awards, $2.7 million in option-based awards and $2.6 million in annual bonus. The remaining money came from pension values and other compensation.
On March 5, CN Rail’s board of directors announced Jobin’s departure and the appointment of Jean-Jacques Ruest, a 22-year veteran of the company, as interim president and CEO. Ruest will also remain chief marketing officer while the board conducts a global search for a full-time chief executive.
In the filing ahead of its April 24 annual meeting
Article source: http://www.msn.com/en-ca/money/topstories/cn-rails-ex-ceo-earned-dollar123-million-in-2017/ar-BBKIX8X?srcref=rss